Halifax offers new five-year fix for first-time buyers

Halifax Intermediaries is overhauling its five-year fixed mortgage portfolio by adding two new products and cutting the rates on existing ones.

The lender is offering first-time buyers as well as homemovers a new five-year fix at a 2.39 per cent rate and up to 60 per cent loan-to-value (LTV). The product comes with a £1,499 fee and is for loans between £200,000 and £1 million.

The same offer is valid for remortgaging customers but at a fixed rate of 2.54 per cent.

Further Halifax has reduced, by up to 0.4 percentage points, the rates on selected products in its existing five-year fixed mortgage range.

Rates on five-year fixes at up to 60 per cent LTV now start from 2.54 per cent for first-time buyers and homemovers and from 2.69 per cent from remortgaging customers.

Rates on five-year fixes at 60-75 per cent LTV now start from 3.19 per cent for first-time buyers and homemovers and from 3.24 per cent for remortgaging customers.

In the higher LTV range from 75 to 80 per cent, Halifax has cut the rates on five-year products for first-time buyers and homemovers, now starting from 3.59 per cent.

All products come with a fee of £999.